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Eco Spindles improves waste management practices of Sri Lankans through tech

Eco Spindles improves waste management practices of Sri Lankans through tech

Ada Derana Business: To commemorate World Environment Day on June 5th and World Oceans Day on June 8th, Sri Lanka’s largest plastics recycler, Eco Spindles Pvt. Ltd., has amplified its efforts to instil better waste management practices among Sri Lankan consumers using technology.
The ‘Waste 2 Value’ app launched by the company on March 18th 2020 – coinciding with the Global Recycling Day – can be downloaded via the Google Play Store and the Apple (iOS) App Store. The app allows users to locate more than 400 drop-off bins in the Western Province and more than 100 in other areas in Sri Lanka and dispose their plastic waste responsibly without harming the environment. Plastic waste disposed at these bins is recycled by Eco Spindles to primarily generate foreign exchange earnings for the country through value-added exports.
By the end of 2022, Eco Spindles intends to have 700 drop-off bins in the Western Province and 300 in other areas of the country. This will bring the country-wide total to 1,000, further amplifying Eco Spindles’ recycling initiatives and allowing the public to play a greater role in protecting the environment from plastic waste, one of the biggest pollutants.
Besides allowing users to locate the nearest plastic waste disposal bins and the relevant contact details, the Waste 2 Value app also motivates and influences behavioural change.
“Driving behavioural change among the public is essential to achieving meaningful change in the battle against pollution caused by the improper disposal of plastics,” said Dr. Anush Amarasinghe, Managing Director and CEO of BPPL Holdings – the parent company of Eco Spindles. “As a corporate leader in environmental sustainability, Eco Spindles seeks to provide the tools to empower environmentally-conscious consumers while also parallelly strengthening the country-wide plastic collection network and infrastructure, giving the public more convenient access to such collection points.”
“Besides inculcating such practices among consumers, we are also helping producers and corporates to significantly improve the sustainability of their offerings – particularly in the apparel industry, both locally and globally by giving PET plastic a second life,” Dr. Amarasinghe added. “Sourcing from Eco Spindles ensures that the raw material used for fabric production, has inturn been produced in conformity with the highest levels of environmental sustainability.”
Eco Spindles use the Polyethylene Terephthalate (PET) waste collected through these efforts to produce value-added products, including polyester yarn for the Sri Lankan apparel industry. This enables the apparel industry, which has a significant environmental footprint, to improve the sustainability credentials of its products.
Furthermore, polyester yarn produced locally by Eco Spindles reduces the need for the apparel industry to import these raw materials, saving the country a large amount of valuable foreign exchange. In 2021, Eco Spindles saved an estimated $2 million in foreign exchange – equivalent to 4% of Sri Lanka’s total polyester yarn imports for apparel exports. In 2022, this is expected to increase to $3.3 million, as Eco Spindles is set to supply 7% of the country’s polyester yarn requirement for apparel exports following the expansion of the company’s manufacturing capacity.
The high-quality synthetic monofilaments manufactured by Eco Spindles for cleaning tools/brushes and using recycled PET plastics similarly reduce the need for raw material imports, saving the country valuable foreign exchange. In 2021, such savings through monofilaments produced locally by Eco Spindles were estimated to be $3.4 million.
Eco Spindles, Sri Lanka’s largest plastics recycler, is equipped with one of only two plants in the world capable of creating polyester yarn directly from recycled PET plastic flakes. The company has significantly bolstered Sri Lanka’s recycling capabilities by creating a vibrant and sustainable ecosystem for recycling within the country.

OSL take:

The increasing economic activities and expansion have further increased the need for sustainable solutions, especially in the waste management sector. This is a new and emerging business/investment opportunity in the country. Apart from recycling, Sri Lanka is also looking at waste to energy projects given the country’s focus on sustainable energy generation options. The expanding economic activities have opened new business/investment opportunities for discerning foreign businesses/investors.

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Article Code : VBS/AT/21062022/Z_2

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